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By GSMIweb on 21-Apr-10 22:49.
As part of Cura's continuing Executive eBriefing Series on Enterprise Risk Management, we hosted a live Web based presentation and open Q&A session in December 2008 for our clients and friends. This month's session featured Mr. Grant Purdy, a nominated expert on the ISO working group which recently wrote ISO 31000, the new global standard for Risk Management. Developed in concert over the last 3½ years by over 30 ISO member organizations worldwide, ISO 31000 is arguably the most concise, clear, flexible set of guidelines ever developed for risk management. Mr. Purdy discussed with our audience how ISO 31000 represents a durable, flexible framework for developing a solid risk management culture in all forms and sizes of organizations. Incidentally, in our experience, we have never seen a more lively, attentive and engaged online audience for any topic like we had for this one. Officials from a broad array of industries were treated to a thoroughly informative dialogue. Here we present some of the fascinating highlights of the Q&A session with Mr. Purdy and our audience. We hope you find it helpful.
Kenneth Murphy Risk Analyst Enterprise Wide Risk Management FirstEnergy Corporation People play an extremely integral role in ensuring effective ERM. People make the decisions and manage the processes that determine the amount of risk an organization assumes. Because many are not trained to identify risk in their enterprise, motivating employees to support ERM is a universal challenge among organizations of all industries. By getting individual employees to understand how risk is related to their jobs and how their efforts ensure organizational stability, the adversity of ensuring cooperation and buy-in for ERM can be alleviated. In this session, you will learn how to establish buy-in and support for ERM among individual employees.
Business Process and ERM: Aligning Business Operations to Strategy through Effectively Managing Risk
Oscar Lewis Controller Umbra Cuscinetti For many organizations, risk is the stumbling block that prevents the seam-less execution of organizational strategy. Enterprise risk prevents a strategy from being communicated throughout an organization and creates a divide between business operations and the achievement of objectives. In this session, you will learn how risk creates the chasm between operations and strategic objectives and how risk can be managed to ensure organizational alignment to strategy.
William G. Shenkir, Ph.D. Professor Emeritus McIntire School of Commerce University of Virginia It is not uncommon for modern businesses to carry a wide variety of risks, ranging from litigation to technological disadvantages, in their risk portfolios. Because there are so many risks ranging in severity and scope, there is a need among organizations of all industries to manage the diversity of risks that can impact their survival. ERM has emerged as a necessary process for organizations to address risks they face. For ERM to be effective and integrated into the organization, it must be fully understood and defined. In this session, you learn how ERM should be defined and understood by stakeholders within the organization.
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